What is a Last Will and Testament?
A Last Will and Testament is a legal document that sets forth your preferences regarding asset distribution after death, such as who will inherit your personal belongings, your money, or your home.Last
The person making a Will is known as the “testator,”
while the individual or organization appointed to oversee the testator’s estate after death is called the “executor.”
As a result of having this essential document, your executor(s) will have a point of reference for your decisions.
When can you use a Last Will and Testament?
- You’d like your property distribute according to your wishes after your death.
- You want to ensure certain people can access your digital assets, such as save documents, photos, email accounts, social media websites, online backup services,
- file sharing websites, domain names and other accounts or digital property.
- Note: If the value of what you own is going to larger than the federal estate tax exemption amount, it’s a good idea to get an attorney.
Make this document
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Sign this document
This document needs to singe :
- The willmaker
- Two witnesses
All of the witnesses must watch the willmaker and the other witnesses sign this Will.
The will maker should verbally declare that the document is intended to his or her Last Will and Testament, but the witnesses do not need to read the Will.
Some states may require the willmaker to initial on the bottom margin of each page of the Will. This is to prevent the substitution of pages.
This must done in the presence of a notary public and at least two competent witnesses.
What to do with your Will
You should keep the original copy of the Will in a secure location such as a safe deposit box at a bank, because only the signed original can probate . A copy could be kept in the Will writer’s home files.
You may wish to provide a copy to your lawyer,
or possibly to the person named as Executor or Trustee. Before distributing such copies,
you should consider that it may become awkward to retrieve them later, should you decide to modify the Will or change the Executor or Trustee.
The Self-Proving Affidavit
The self-proving affidavit (“Proof of Will” in some states) is a document which should be signed in front of a notary public and attached to the end of the Will.
The affidavit recites that the requisite formalities were observed in signing the Will.
Although attaching the affidavit has nothing to do with the legality of the Will itself,
it can speed the admission of the Will to probate after the death of the Will writer because it eliminates
the need to have a witness appear at the probate proceeding to testify that the formalities in signing the Will were followed.
The witnesses may not available later when they are needed.
A self-proved Will may be admitted to probate without additional witnesses or affidavits,
but it is still subject to contest on such grounds as undue influence,
lack of testamentary capacity, or prior revocation.
Reasons to Update
- A change in marital status.
- The birth or adoption of children. A new Will with provisions for minor children create .
- A move to another state.
- A significant change in financial status.
When to Consult a Lawyer
As with any legal document,
it is always good practice to discuss your specific situation with a lawyer.
If the Will writer is unable to sign due to physical disability,
another person may able to sign on behalf of the and at the express direction of the Will writer.
However, this document does not provide the necessary language for another person to sign for the Will writer. For assistance with this procedure, a lawyer should be contacted.